NSDC to Nigeria farmer: Invest in sugar production
The NSDC has urged Nigerian farmers and investors to seize sugar sector opportunities, citing 150,000 hectares of viable land and a \$2 billion local market. With rising import costs and demand, local production is now profitable. AFAN pledged support, stressing the need for collective effort to bridge the production gap.
The Executive Secretary, National Sugar Development Council (NSDC), Kamar Bakrin has called on members of the All Farmers Association of Nigeria (AFAN) and other potential investors to seize the opportunities currently available to invest in Nigeria’s sugar sector.
Barkrin made this call during a visit by the All Farmer’s Association of Nigeria in Abuja stating that they should take advantage of the 150,000 ha of viable land bank available and invest in sugar production.
He also called on stakeholders to key into the national push to reduce the country’s over-dependence on imported raw sugar and its by-products adding that local production of sugar is not just a strategic economic imperative but a profitable venture with an assured market, attractive returns, and strong government backing.
He said: “This is the right time to invest. The Nigerian sugar market is currently valued at over $2 billion, that of Africa is $7billion and the continental deficit will rise to 13 MT in 2030 due to rising demand and regional supply gaps. The market for sugar by-products is worth $10billion. From the country’s sugar consumption figures, foreign exchange realities and rising global supply chain uncertainties have made investments in local production more profitable than ever before.Related News
“The prevailing macroeconomic conditions have also made local production more competitive and importation more challenging. After a robust land viability assessment, the Council is now in possession of a land bank of 150,000 ha that is suitable for sugarcane cultivation and available to new investors. The hectares of land, lie in secure regions with favourable climate, proximity to water sources, and community support”.
He added that, It has become valuable to produce sugar in Nigeria. It wasn’t always the case but it is the case now. Four critical factors that have created compelling opportunities to invest in sugarcane growing and processing to meet local and export demand for sugar and associated value-added products include, attractive Markets, Operational Feasibility, Sound Economics and (4) Sustainable and Future-proof Business.
Speaking, the President of the Association, Dr. Faruk Rabiu Mudi, accepted the task of mobilising its members to show more interest in the sugar industry especially the commercial out-grower scheme, as he admits that the country’s local production numbers compared to consumption are not good enough, noting that addressing the deficit is not a task for the NSDC alone.
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